Atle Fund Management AB Has $5.44 Million Holdings in Mirum Pharmaceuticals, Inc. $MIRM

Key Points

• Atle Fund Management AB has increased its holdings in Mirum Pharmaceuticals by 38.4%, bringing its total ownership to 106,912 shares.
• Mirum Pharmaceuticals reported a quarterly revenue of $127.79 million, exceeding analyst expectations by 18.9% and showing a 64.1% increase compared to the same quarter last year.
• The stock price of Mirum Pharmaceuticals is currently down 1.2% and has a market cap of $3.74 billion, with analysts rating it as a "Buy" with a consensus target price of $74.44.

Atle Fund Management AB lifted its position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 38.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 106,912 shares of the company's stock after purchasing an additional 29,649 shares during the period. Mirum Pharmaceuticals accounts for approximately 2.3% of Atle Fund Management AB's investment portfolio, making the stock its 16th biggest holding. Atle Fund Management AB owned approximately 0.22% of Mirum Pharmaceuticals worth $5,441,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MIRM. CWM LLC grew its holdings in Mirum Pharmaceuticals by 259.4% in the 1st quarter. CWM LLC now owns 593 shares of the company's stock valued at $27,000 after buying an additional 428 shares in the last quarter. Comerica Bank boosted its position in shares of Mirum Pharmaceuticals by 45.1% in the first quarter. Comerica Bank now owns 895 shares of the company's stock valued at $40,000 after acquiring an additional 278 shares during the period. GF Fund Management CO. LTD. acquired a new position in shares of Mirum Pharmaceuticals in the fourth quarter valued at about $42,000. Quarry LP acquired a new stake in Mirum Pharmaceuticals in the 1st quarter worth about $56,000. Finally, KBC Group NV bought a new stake in Mirum Pharmaceuticals in the 1st quarter valued at about $89,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wall Street Zen cut Mirum Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Monday, August 25th. JMP Securities set a $81.00 price objective on Mirum Pharmaceuticals and gave the company a "market outperform" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. increased their target price on Mirum Pharmaceuticals from $53.00 to $77.00 and gave the stock an "overweight" rating in a report on Friday, September 12th. HC Wainwright raised their price target on Mirum Pharmaceuticals from $73.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Finally, Stifel Nicolaus set a $89.00 price objective on shares of Mirum Pharmaceuticals and gave the stock a "buy" rating in a research report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to MarketBeat.com, Mirum Pharmaceuticals currently has an average rating of "Buy" and an average price target of $74.44.

Mirum Pharmaceuticals Trading Down 0.3%

NASDAQ MIRM traded down $0.25 during trading hours on Tuesday, reaching $73.68. The company's stock had a trading volume of 290,430 shares, compared to its average volume of 532,196. The firm has a fifty day simple moving average of $64.82 and a 200-day simple moving average of $52.14. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.13 and a quick ratio of 2.97. Mirum Pharmaceuticals, Inc. has a 52 week low of $36.88 and a 52 week high of $78.10. The stock has a market cap of $3.70 billion, a P/E ratio of -60.84 and a beta of 0.92.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.19. The firm had revenue of $127.79 million during the quarter, compared to analysts' expectations of $107.91 million. Mirum Pharmaceuticals had a negative net margin of 13.65% and a negative return on equity of 24.76%. The company's revenue was up 64.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.52) EPS. Equities analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Jolanda Howe sold 10,000 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $58.00, for a total transaction of $580,000.00. Following the completion of the transaction, the senior vice president directly owned 2,426 shares of the company's stock, valued at $140,708. This trade represents a 80.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Eric Bjerkholt sold 9,578 shares of the company's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $76.01, for a total value of $728,023.78. Following the completion of the sale, the chief financial officer owned 39,945 shares in the company, valued at $3,036,219.45. This trade represents a 19.34% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 117,619 shares of company stock valued at $7,313,448. Company insiders own 22.87% of the company's stock.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies for debilitating rare and orphan diseases. Its lead product candidate is LIVMARLI (maralixibat), an orally administered and minimally absorbed ileal bile acid transporter (IBAT) inhibitor that is approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the United States and internationally.